How light carriers reshape early Royal Navy carrier losses

Would additional light carriers be used at Taranto, on Malta convoys, or against Bismarck?

They would more likely free fleet carriers from ASW and scouting, potentially preserving Courageous and Glorious and enabling a much larger Taranto strike.

The clearest direct use for the small carriers would be helping to hunt Bismarck. Their effect on Taranto is more indirect because the operation still requires fleet carriers. Courageous might avoid exposed anti-submarine patrols, while better scouting could keep Glorious from being surprised by Scharnhorst and Gneisenau. If those fleet decks remain available and the Illustrious type grows larger, the attack on Taranto could be stronger.